Text size Shares of chip giant Intel have risen more than 19% this year. Dreamstime Stock futures pointed to gains Thursday as Wall Street comes off a strong session led by technology shares and an easing of turmoil in the banking industry. These stocks were poised to make moves Thursday: Chip giant Intel (INTC) was … Read more
Text size Meta CEO Mark Zuckerberg has said this will be a “year of efficiency.” David Paul Morris/Bloomberg Shares of Facebook-parent Meta Platforms were rising Tuesday after a report said the company will cut more jobs than previously announced. Meta (ticker: META) is planning another round of layoffs as soon as this week, Bloomberg reported, … Read more
Jeep maker Stellantis STLA -2.70% NV said it would stop operations at a 1,350-employee assembly plant in Illinois, citing the need to control costs in the face of supply-chain disruptions and high expenses associated with moving to electric vehicles. The Netherlands-based global auto maker said Friday that its factory in Belvidere, Ill., which makes the … Read more
Credit Suisse could split its struggling investment bank into three parts, a move that would involve thousands of job cuts as the Swiss bank reshapes its business. The bank has drawn up plans to split its beleaguered investment banking unit, including creating a so-called ‘bad bank’ to hive off unwanted assets, the Financial Times reported … Read more
In response to stalling growth and intense competition, Meta META -0.14% Platforms Inc. executives have spoken of cost cuts, hiring freezes and “ruthless prioritization.” One word the company hasn’t used: layoffs. But Meta has begun quietly nudging out a significant number of staffers by reorganizing departments and giving affected employees a limited window to apply … Read more
In a return to pre-pandemic practice of hiving off low-performing staffers from the bank, Goldman Sachs is set for a round of job cuts. The US investment bank is set to axe jobs in plans that could trigger the earliest layoffs as soon as next week, The New York Times reported, according to people familiar with the … Read more